111 Creation of pension compensation debits and credits

111  Creation of pension compensation debits and credits

(1)     On the application of this section—

(a)     the transferor's shareable rights to PPF compensation that derive from rights under the specified scheme become subject to a debit of the appropriate amount, and

(b)     the transferee becomes entitled to a credit of that amount as against the Board.

(2)     For the purposes of subsection (1) “the

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